International Lending and Sovereign Debt in the Presence of Agency Costs: The Case of Mexico

Christopher A. Erickson and Elliott Willman

Chapter 11 in The Changing Environment of International Financial Markets, 1994, pp 139-146 from Palgrave Macmillan

Abstract: Abstract For Mexico, the 1970s were a period of rapid economic progress. Between 1970 and 1980, real GDP per capita increased by an annual average of 3.4 per cent, real consumption per capita increased by 5.2 per cent, and fixed investment increased by 3.8 per cent.1 Moreover, given its large proven reserves, the increase in the world price of oil substantially increased Mexico's ability to generate current account surpluses.

Keywords: Cash Flow; Agency Cost; Stylize Fact; Policy Rule; Domestic Investment (search for similar items in EconPapers)
Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-23161-4_11

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DOI: 10.1007/978-1-349-23161-4_11

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